Simms, 25, was set to become a free agent this offseason, but now will make $495,000 next year. Keeping Simms looks to be another indication that QB Mark Sanchez is likely to be released at some point in the near future.

Geno Smith is the clear favorite to start the 2014 season as the team’s No. 1 quarterback, but there is still a chance that New York will add another quarterback at some point.